Compensation Consulting
McLagan is a leading provider of compensation consulting and pay and performance data for insurance companies.
Our industry focus, ongoing client work, and proprietary study data allow us to frame each consulting project within a broad business context and a keen understanding of competitive issues and practices. While the scope of our consulting work varies, we are skilled at working with organizations to:
Provide pay advisory services to senior management and their board of directors.
Benchmark competitive pay levels and practices and related human resource issues.
Design annual, long-term and sales incentive plans.
Compensation Plan Design
Recent projects have included:
Assisted a leading insurance company in re-designing a new senior executive annual incentive program.
Helped design a phantom stock plan for an insurance company's asset management subsidiary.
Provided merger-related incentive plan design assistance to a large insurance company.
Compensation & Business Benchmarking
Recent projects have included:
Benchmarked life insurance wholesaling business and sales incentive design practices for a leading life insurance company.
Assisted a leading re-insurance company in identifying competitive pay levels for managers and transactors in a specialized structuring business. Benchmarked current trends in portfolio manager incentive plan design for a leading insurance firm.
Compensation Advisory/Counsel
- Provide year-end compensation counsel to senior management of many leading insurance companies.
Life Insurance & Annuity Wholesaling Business & Benchmarking Study: Includes detailed analysis of the business practices and incentive design practices of approximately 15 leading life and annuity wholesaling firms. Additionally, provides competitive pay and productivity benchmarks for external wholesalers.
